3 years ago

Plz help i dont understand this

Mathematics

2 answers:

OLEGan [10]3 years ago

5 0

I think it’s 27

explanation:

Lelechka [254]3 years ago

4 0

It’s 27 or 23 because those are the most reliable!

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Answer:

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Explanation:

Given:

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• Annual Interest Rate, r=16.5%=0.165

• Compounding Period, k=12 (Monthly)

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We want to determine how much he will owe after 7 years.

In order to carry out this calculation, use the compound interest formula below:

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$A(t)=8000\mleft(1+\frac{0.165}{12}\mright)^{12\times7}$

Finally, simplify and round to the nearest cent.

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